Y Intercept Hong Kong Ltd Raises Stock Holdings in Universal Insurance Holdings Inc $UVE

Y Intercept Hong Kong Ltd lifted its stake in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 37.0% during the third quarter, Holdings Channel reports. The fund owned 61,938 shares of the insurance provider’s stock after purchasing an additional 16,713 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Universal Insurance were worth $1,629,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in Universal Insurance in the 3rd quarter valued at about $32,000. Ameritas Investment Partners Inc. grew its holdings in shares of Universal Insurance by 28.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,597 shares of the insurance provider’s stock worth $72,000 after buying an additional 577 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Universal Insurance by 390.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,114 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Universal Insurance by 11.3% during the second quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock valued at $146,000 after buying an additional 534 shares during the period. Finally, CWM LLC boosted its position in Universal Insurance by 80.2% during the second quarter. CWM LLC now owns 6,367 shares of the insurance provider’s stock worth $177,000 after acquiring an additional 2,833 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

Universal Insurance Trading Up 2.5%

Shares of UVE opened at $30.33 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $850.64 million, a P/E ratio of 7.15 and a beta of 0.73. The stock’s fifty day simple moving average is $31.98 and its 200 day simple moving average is $28.79. Universal Insurance Holdings Inc has a twelve month low of $18.99 and a twelve month high of $35.84.

Universal Insurance Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, December 5th were issued a $0.13 dividend. The ex-dividend date was Friday, December 5th. Universal Insurance’s dividend payout ratio (DPR) is 15.09%.

Insider Transactions at Universal Insurance

In other Universal Insurance news, Director Richard D. Peterson sold 1,855 shares of Universal Insurance stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $33.61, for a total transaction of $62,346.55. Following the transaction, the director directly owned 8,319 shares of the company’s stock, valued at $279,601.59. The trade was a 18.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Donaghy sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $34.07, for a total transaction of $851,750.00. Following the sale, the chief executive officer owned 679,961 shares of the company’s stock, valued at approximately $23,166,271.27. This represents a 3.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 91,163 shares of company stock valued at $3,098,566. 16.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler boosted their price target on Universal Insurance from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Zacks Research downgraded Universal Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.00.

About Universal Insurance

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.